Based on the chart in the image, the current short-term trend for SOL/USDT looks bullish, and here's why:
1. Strong Green Candle Surge: There's a noticeable sharp upward move with a strong green candle, indicating buying pressure and a breakout.
2. Above Moving Averages:
The price is well above the MA(5) and MA(10), which supports a short-term bullish trend.
The MA lines are pointing upward.
3. Bollinger Bands Expansion: The Bollinger Bands are widening, suggesting increased volatility and trend continuation. The price touched or exceeded the upper band, which usually signals strong bullish momentum (though overbought conditions can follow).
4. Volume Spike: There's a significant increase in trading volume during the price surge, confirming buying interest.
5. Price Retracement: After hitting a high of $139.42, there's a minor pullback, but it's holding relatively strong around $138.41. This could be a healthy consolidation after a strong move up.
Summary:
Short-term trend: Bullish
Watch for: Consolidation or potential pullback if resistance holds near $139.50–$140.
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